aqua credit cards

Best aqua credit cards

aqua was launched in 2002 with the aim of helping people who may have been refused credit or overlooked by other credit card companies in the past. aqua credit cards are underwritten and marketed by NewDay Ltd.

As they are aimed at the subprime market, aqua credit cards come with a higher Annual Percentage Rate (APR) than mainstream credit cards, so they should be treated as a tool to rebuild your credit score rather than a means of borrowing. The aqua range of credit cards has now extended beyond its Classic card to its Rewards and Advance cards which pay you cashback and reduce the interest you pay annually. But you will have to pay off your balance every month to benefit.

Compare aqua credit cards - Sorted by APR

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Your personalised chance of approval

Chance of approval10/10 GUARANTEED

Chance of approval{{sliderProduct.productScoring.productLikelihood}}/10

Chance of approvalNot rated

Chance of approvalNot eligible

Being pre-approved means you’re an ideal customer for this lender and you’re guaranteed to get this card, provided you use the same details as you gave us, and you pass the lender’s ID checks.

We can’t give you a rating for this card either because we can’t match your details to your credit report, or we don’t have enough information about the lender’s acceptance criteria for this card.

You won’t get this card. This is usually because you don’t meet the lender’s acceptance criteria – for example, your income may not be high enough, you have credit problems, or you already have one of this lender’s cards.

This means there’s a good chance you’ll be accepted for this card. For every 100 applications from people in a similar financial situation to you, between 70 and 95 of them will get the card.

This score means it’s around fifty-fifty whether you’ll be accepted for the card or not. It’s worth a go if this is your highest score, and you need the credit for a specific purpose.

It’s unlikely you’ll get this card. For every 100 people in a similar financial situation to you who apply, only between 10 and 30 get accepted for the card. There’s still a chance, but rejection’s more likely than acceptance.

Why is this important?

Every time you apply for a credit card, a mark is left on your credit score. That means it's better to get it right the first time. Your scores help you understand which cards you have the strongest chance of getting. The higher the score, the stronger chance you have of getting the card. If you see a very low score, you're probably better off choosing a different card.

Chance of approval scale

10/10 = Pre-approved

Chance of approval10/10 GUARANTEED

10/10 GUARANTEED

10/10 = Pre-approved

Being pre-approved means you’re an ideal customer for this lender and you’re guaranteed to get this card, provided you use the same details as you gave us, and you pass the lender’s ID checks.

9.5/10 - 7/10 = Good chance

Chance of approval9.5/10

9.5/10

Chance of approval9/10

9/10

Chance of approval8/10

8/10

Chance of approval7/10

7/10

9.5/10 - 7/10 = Good chance

This means there’s a good chance you’ll be accepted for this card. For every 100 applications from people in a similar financial situation to you, between 70 and 95 of them will get the card.

6/10 - 4/10 = Fair chance

Chance of approval6/10

6/10

Chance of approval5/10

5/10

Chance of approval4/10

4/10

6/10 - 4/10 = Fair chance

This score means it’s around fifty-fifty whether you’ll be accepted for the card or not. It’s worth a go if this is your highest score, and you need the credit for a specific purpose.

3/10 - 1/10 = Low chance

Chance of approval3/10

3/10

Chance of approval2/10

2/10

Chance of approval1/10

1/10

3/10 - 1/10 = Low chance

It’s unlikely you’ll get this card. For every 100 people in a similar financial situation to you who apply, only between 10 and 30 get accepted for the card. There’s still a chance, but rejection’s more likely than acceptance.

Not eligible = Consider a different card

Chance of approvalNot eligible

Not eligible

Not eligible = Consider a different card

You won’t get this card. This is usually because you don’t meet the lender’s acceptance criteria – for example, your income may not be high enough, you have credit problems, or you already have one of this lender’s cards.

Not rated = We don’t have enough infoinformation

Chance of approvalNot rated

Not rated

Not rated = We don’t have enough infoinformation

We can’t give you a rating for this card either because we can’t match your details to your credit report, or we don’t have enough information about the lender’s acceptance criteria for this card.

What's good about this card

What to be aware of

Repayment details

Interest free period – up to {{sliderProduct.productAttributes.repaymentDetails.interestFreePeriod}} days

Your monthly minimum payment will be the greater of:

{{sliderProduct.productAttributes.repaymentDetails.minimumMonthlyRepayRate}}% of the outstanding balance on your statement (minimum £{{sliderProduct.productAttributes.repaymentDetails.minimumMonthlyRepayAmount}})

The full balance if less than £{{sliderProduct.productAttributes.repaymentDetails.minimumBalanceToAvoidPayingFullBalance}}

{{sliderProduct.productAttributes.repaymentDetails.percentageOfBalanceToPayAfterMissedPayment}}% of the outstanding balance plus interest, plus fees, plus any insurance premium, plus the amount of any arrears which are payable immediately.

EXPLORE MORE CREDIT CARDS

Guide to aqua credit cards

aqua offers credit cards which are specifically designed for people who may have struggled with debts in the past, and who are keen to re-build their credit rating.

There are no guarantees that you’ll be offered a card, but aqua does promise to take a thorough look at your individual circumstances and financial situation.

The aqua card works just like any other credit card, but interest rates are much higher than the market average, reflecting the greater risk to the lender. The annual percentage rate (APR) you will be charged will depend on your individual circumstances.

Interest rates are the same if you want to transfer a balance from another card, perhaps because you are paying an even higher rate of interest elsewhere.

Credit cards give you valuable consumer protection that cash and debit cards don’t. Under Section 75 of the Consumer Credit Act, if you pay for goods or services using a credit card, the card provider is jointly liable with the retailer if something goes wrong. This protection only applies to items or services costing between £100 and £30,000. So, for example, if you ordered a bed costing £500 and the shop you bought it from goes bust before it is delivered, the credit card provider should provide you with a full refund.

If you want to avoid paying steep rates of interest, always pay your balance in full and on time every month. Doing this not only means you can avoid paying interest altogether, but it can also help you to build up or repair your credit rating. As long as you keep up with your payments you could boost your rating in around six months. You could then apply for a mainstream card with a lower rate of interest.

aqua cards won’t suit for everyone, and credit limits are comparatively low at about £2,000. You should avoid credit cards altogether if you are currently finding it hard to keep on top of other debt repayments. If this is the case, you should contact your local Citizens Advice or the charity Step Change for free advice on dealing with debt.

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